Is Bird dogging a good way to start?

[Jorge Villegas]

Is this a good way to start? This seems like a great way to raise capital so you can eventually start marketing. However I don't know the complete processes of it and how the deals are found, Because if I find a good investment property why don't I just wholesale it? This just seems like a good way to earn while you learn.

[Mary B.]

Originally posted by @Jorge Villegas:

Is this a good way to start? This seems like a great way to raise capital so you can eventually start marketing. However I don't know the complete processes of it and how the deals are found, Because if I find a good investment property why don't I just wholesale it? This just seems like a good way to earn while you learn.

To tell you the truth, all aspects of real estate investing can be a learn while you earn process if you really think on it. Birddogging aka locators, is a good way to start out, in particularly if you have one or two investors that will mentor you in the process. You need to learn how to perform a CMA (comparative marketing analysis) aka secure accurate comps, to determine the ARV. Also you need to learn your housing market's rehab costs be it minor upgrades or full renovation, learn the costs with the help of a contractor. In the beginning I learned a lot from rehabbers aiming to flip as well as investor-landlords. Some people seem to think that wholesaling is a way to skip the learning curve and make money. If your aim is to succeed in this business, you will avoid that notion altogether. Don't wait until you have a deal under contract to pick up a REI book, read a blog or tune into a REI podcast. Attend some REIA groups and free seminars (for learning purposes only) whereas you get to network with like-minded individuals in the flesh. Definitely utilize the resources here on BP as well. When the time is right for you to act, you will know it, so get ready now.

Kudos,

Mary